Friends Well, that was quite a first quarter 2020. If it’s ok with you, I’d like to just fast forward to 2021. Ok, I guess that isn’t going to happen, so we’ll just have to get through all of this on a day by day basis. Obviously, stocks were down quite a bit in the...
Friends Now that we all know that we’ll all be in our homes for a least another month, I guess we’re going to have to come up with new ways to entertain ourselves. I went out at lunchtime and started my car (hadn’t in 15 days). It still works. Let me know if you have...
Friends Amid a plethora of distressing headlines, stocks gave back much of yesterday’s gains in early trading. The bulls did try to mount a rally in the last hour of trading but it failed rather miserably. Stocks did end higher for the week, but it certainly felt like...
Friends As expected the weekly jobless claims number spiked. More than 3 million people applied for unemployment benefits this week, a number that is even bigger than expected. The good news might be that at least the system was able to file that many applications....
Friends I was going to let you know how stocks soared for a second day in a row. For whatever reason, it’s just good to see stocks going up for a change, as it has been a difficult last few weeks. Well, stocks did go up some, but in the last 20 minutes or so gave up...
Friends Finally, Congress has delivered an impressive piece of legislation for the U.S. citizens, designed to bridge the gap until we can restart the country. Wait a minute, I’m getting word that nothing has emerged yet from the Congress? Ok, there has been...
Friends Phew, it’s a good thing that calmer heads prevailed, partisanship was put aside, and our folks on the hill were able to strike an historic deal and produce a heroic piece of legislation for the American people over the weekend. Wait, hold on, I’m hearing now,...
Friends It looked like stocks really wanted to go up today, but alas, it appeared that more liquidation was occurring, it was quadruple witching Friday, and basically investors were scared to buy much of anything heading into the weekend. As more and more forced...
Friends Despite an early morning appearance on CNBC by famed Hedge Fund Manager Ray Dalio in which he brought a significant helping of gloom and doom, markets did seem to find a little footing today. Now, the volatility was still amazing, but there appeared to be...
Friends Some legendary investors grabbed the headlines today. Bill Ackman tweeted this morning and then appeared on CNBC at lunchtime begging the President to shut down the country for 30 days. He’s concerned that governments just aren’t doing enough. Interestingly,...
Friends As more and more cancellations and shut downs occur, there were some positive developments today. First, the Federal Reserve continues to fight this battle on the front lines, today adding support to the commercial paper market by opening a funding facility to...
Friends Sure, there is plenty of bad news, with all the business closings etc., but for a moment let's see if we can find something good to take from today's proceedings. First of all, the President's press conference this afternoon was encouraging. We have some great...
Friends Not surprisingly, given the news we got over the weekend on the medical front, stocks gave up Friday’s gains at the open this morning. As we mentioned last evening, the Fed has stepped up to provide liquidity and we expect a massive fiscal response this week....
Friends This afternoon, the Federal Reserve took action by lowering the Fed Funds rate to a range of 0%-.25%. Even more importantly, the Fed announced that they would buy up to $500 billion of Treasury Securities and up to $200 billion Mortgage Backed Securities. Now,...
Friends Stocks rallied fiercely this afternoon after President Trump declared a national emergency and announced other measures that show that the federal government appears to be “all-in” in the fight against Covid-19. We already know that the Federal Reserve will be...
